Please ensure Javascript is enabled for purposes of website accessibility

Pentagon Awards $212 Million in Defense Contracts Monday

By Rich Smith - Feb 3, 2014 at 4:56PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Cray, Boeing, and Lockheed Martin win expansions of existing contracts.

The Department of Defense awarded only eight defense contracts Monday, worth $212.2 million in total. Among the publicly traded companies winning contracts:

  • Cray (CRAY) was the big winner, notching a pair of contract modifications -- each worth $21.8 million -- paying the supercomputer-builder for high performance computing systems needed to conduct complex, large-scale scientific calculations. The first of these two contracts relates to computer work that Cray will be doing for the U.S. Air Force Research Laboratory DoD Supercomputing Resource Center at Wright-Patterson, Air Force Base in Ohio. The second relates to work for the U.S. Navy DoD Supercomputing Resource Center John C. Stennis Space Center in Mississippi. Each contract modification extends the period of its respective Cray contract through July 28, 2018.
  • Boeing (BA -3.24%) was awarded a $42.2 million contract modification instructing it to supply aircraft armament equipment -- including jumper bundles, pylons, and bomb racks -- for installation aboard U.S. Navy F/A-18E/F fighter-bombers and EA-18G electronic warfare aircraft. This work should be completed by May 2018.
  • Lockheed Martin (LMT 0.73%) was awarded a $14.4 million contract modification funding the purchase of long-lead materials needed to build the GPS III satellites designated "space vehicles 07 and 08." Work on this contract will continue through June 2015.

Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

The Boeing Company Stock Quote
The Boeing Company
$166.51 (-3.24%) $-5.57
Lockheed Martin Corporation Stock Quote
Lockheed Martin Corporation
$443.37 (0.73%) $3.21
Cray Inc. Stock Quote
Cray Inc.

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 08/17/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.